Australian MP: Blockchain technology could bring $60 billion to the economy

Australian Member of Parliament Andrew Charlton stated at the 2024 Australian Blockchain Week held in Sydney that Australia's productivity growth rate reached a "fairly healthy" 2.1% in the 21st century, but it is still not enough to sustain an increase in basic living standards. Blockchain technology can bring in $60 billion in revenue for the economy and reverse the slow productivity growth trend of the past thirty years. Andrew Charlton stated that without productivity growth, it is impossible to sustain wage or standard of living increases, and he advocates for increased adoption of blockchain technology in the country.